Wells Fargo raised the firm’s price target on Snap to $18 from $16 and keeps an Overweight rating on the shares. Snap surprised the market with a big beat for Q1, with revenue performance accelerating throughout the quarter and momentum continuing into Q2, the analyst tells investors in a research note. Investors are likely to revisit the stock, but will likely need several solid quarters to rebuild confidence in the Snap recovery story, the firm says.
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